Lawmakers set hearing to review NJ’s legalized cannabis market

New Jersey lawmakers plan to host a hearing to review the rollout of the state’s legalized recreational cannabis marketplace.

Scheduled for June 23 at 9 a.m., the state Senate Judiciary Committee will convene to discuss the overall status of the two-year-old industry, which has proved a challenging space for local entrepreneurs to establish themselves.

In a June 21 press release announcing the meeting, state Sen. Brian Stack, D-33rd District and chairman of the committee, said, “The state still suffers from a lack of retail dispensaries, a lack of product variety and high cannabis prices, which often forces consumers to the black and gray markets.”

“We have also been concerned with the lack of diversity in the cannabis marketplace, especially in the retail space,” Stack added.

During Friday’s proceedings, the committee will take testimony from cannabis industry representatives, experts and social justice groups, along with the New Jersey Cannabis Regulatory Commission, which is responsible for overseeing the state’s cannabis market.

Scutari

State Senate President Nicholas Scutari, D-22nd District, said, “Lawmakers have heard news stories and received numerous complaints from the industry about the commission’s approval process for cannabis licenses, from a general lack of communication with applicants, to delayed approvals, to seemingly erratic decision-making.”

He added, “This has created a high-risk, unpredictable regulatory environment for current and prospective cannabis businesses. We look forward to hearing from the commission on how these and other issues can be addressed.”

According to Stack, the committee also plans to explore the state’s efforts to create an equitable industry and steps being taken to ensure women-, minority- and disabled veteran-owned businesses, as well as those from owners with past marijuana convictions, have access to the new market.

Preparing for the future

The hearing’s announcement came on the same day that the New Jersey Business Action Center named an executive director of its new, no-cost training program aimed at helping diverse cannaprenuers overcome industry challenges. 

Chappell

In taking the helm of the Cannabis Training Academy, Tauhid Chappell will be responsible for delivering comprehensive educational experiences, developing and expanding the curriculum, managing technical assistance and establishing a robust cannabis professional network.

With his background in founding the Philadelphia Cannabusiness Association and organizing conferences focused on cannabis business and advocacy, as well as his experience in journalism and higher education, Chappell brings valuable expertise to the program, according to the NJBAC.

“I’m honored to lead New Jersey’s Cannabis Training Academy, supporting our state’s commitment to an equitable cannabis industry. This academy is dedicated to legacy operators, communities affected by the War on Drugs, LGBTQ+ and Indigenous communities, and those who’ve served. I look forward to ensuring these aspiring entrepreneurs receive the resources they need to thrive in New Jersey,” said Chappell.

Set to launch in late 2023, the Cannabis Training Academy will provide technical assistance, training and mentorship to recreational cannabis license applicants in the social equity, legacy, impact zone, diversely owned and microbusiness categories.

Designed as a 10-week program, the Cannabis Training Academy will walk applicants through everything they need to know to complete a cannabis application. As an asynchronous learning model, it accommodates different learning styles, allowing students to progress in their own way and time.

NJBAC Deputy Director Penni Wild said, “The incorporation of the Cannabis Training Academy into the New Jersey Business Action Center will cater to the needs of aspiring entrepreneurs venturing into the cannabis industry. Tauhid’s extensive expertise and background in the cannabis field, along with his involvement in higher education and media, will undoubtedly enhance the CTA and equip students with the necessary information to thrive.”

Secretary of State Tahesha Way, who oversees NJBAC, said, “The cannabis industry in New Jersey is flourishing each day. By investing in knowledgeable staff who foster educational opportunities, we are preparing for the future. The appointment of the new CTA Executive Director is a significant stride towards the public launch of the CTA. Through accessible education, particularly for those historically affected by cannabis prohibition, we are building a stronger and fairer New Jersey.”

NJBIZ panel

Join us online June 27 for the NJBIZ Business of Cannabis discussion, where industry experts will discuss various topics on the subject and answer questions live from our attendees. Click here for more information and to register.

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